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Jan 1, 2013
01/13
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cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if there is a vote tonight in the senate the house still has toapprove something and they have -- to approve something and they have already gone home. they will be back
cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on...
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Jan 30, 2013
01/13
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those are the huge defense cuts we'll see if the fiscal cliff isn't solved. cuts that will make the cuts we've got so far seem practically minor. nor does it include the result of high every taxes most of us are paying now that payroll taxes have gone up. bottom line, it's bad news, but at 0.1% it's not a disaster. but bigger problems are ahead. other news, facebook reports its profits after the closing bell today. scott budman will have a full rundown on that company's results tonight at 6:00. and research in motion, the maker of blackberry, has changed its name. to blackberry. makes sense. >> put the two together very quick. rob mayeda has a nice day outside. good news. >> you can't see clouds anywhere. we don't have too much haze. there's enough of a breeze to keep air quality today in the good to moderate range around the bay area. but as low pressure locks in and acts like a lid, we'll have to watch out for that smoke particle pollution, but not the case today. right now, 58 already in san jose. look at sunnyvale. 63 degrees there. 53 in san francisco. a
those are the huge defense cuts we'll see if the fiscal cliff isn't solved. cuts that will make the cuts we've got so far seem practically minor. nor does it include the result of high every taxes most of us are paying now that payroll taxes have gone up. bottom line, it's bad news, but at 0.1% it's not a disaster. but bigger problems are ahead. other news, facebook reports its profits after the closing bell today. scott budman will have a full rundown on that company's results tonight at 6:00....
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Jan 2, 2013
01/13
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ceiling. >> three set up three more fiscal cliffs. we are gonna look back on this night and regret it. >> president obama rejoined his family in hawaii this morning. the white house had no immediate details when the president will receive and sign the bill. >>> well, stocks are sharply higher due to the fiscal cliff deal but some market watchers are cautioning that the euphoria could be short-lived because of the many challenging issues that remain unresolved. the dow is slightly off, but remaining up more than 200 points. it's up now 235 at 13,339. well, despite the fiscal cliff deal, everyone's paycheck will still be at least a little bit smaller this year. ktvu's janine de la vega is in los gatos to explain about the end of the payroll tax holiday. >> reporter: good afternoon. this tax cut has expired and it will affect every wage earner. most people that we spoke to this morning had no idea that it would affect their paychecks this year. now, here's what workers need to know -- the -- the past two years, americans were enjoying a
ceiling. >> three set up three more fiscal cliffs. we are gonna look back on this night and regret it. >> president obama rejoined his family in hawaii this morning. the white house had no immediate details when the president will receive and sign the bill. >>> well, stocks are sharply higher due to the fiscal cliff deal but some market watchers are cautioning that the euphoria could be short-lived because of the many challenging issues that remain unresolved. the dow is...
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Feb 20, 2013
02/13
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FBC
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you got your way in the fiscal cliff by raising taxes on the rich. now you want more revenue. which, by the way, is politician talk for more taxes. the president has repeatedly called for even more tax revenue. the american people don't report spending cuts for higher taxes, they understand that it is now closed. if only our fearless leader understood. let's bring in brad blakeman. great to see you. i have to tell you, i think that people i interviewed on the street had it right. it really doesn't matter. it's not a huge thing. the president is trying to build it up into this big thing. i'm not so sure. >> president obama is the man man who cried wolf. the sky is falling. in reality, do the math. 85 billion against an annual budget that is over $3 trillion. but the american people are tuned out because they are non. they are manufactured by the government, the white house who can't even seem to make the slightest bit of improvement in the economy. gerri: the number for the sequester will be half a percent. we are not even talking about curbing growth, but we are talking about
you got your way in the fiscal cliff by raising taxes on the rich. now you want more revenue. which, by the way, is politician talk for more taxes. the president has repeatedly called for even more tax revenue. the american people don't report spending cuts for higher taxes, they understand that it is now closed. if only our fearless leader understood. let's bring in brad blakeman. great to see you. i have to tell you, i think that people i interviewed on the street had it right. it really...
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Jul 10, 2013
07/13
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cliff spending cuts. >>> the nation's biggest grocery chain is getting much bigger. kroger is buying harris teeter, expending its region. they have 212 stores in eight states including delaware, florida, maryland, and washington, d.c. >>> and chevy's newest corvette doesn't just look good. it's a sports car that's good for the planet. the 2014 corvette stingray boasted 29 miles per gallon on the highway even though it's packing a 455 horsepower, f.2 liter engine, the stingray can rocket from 0 to 60 in fewer than four seconds and've has eco mode. >> it got even sexier, who knew that could happen. erica ferrari here in new york. thank you, erica. >>> straight ahead, your morning weather, and in sports the astros splashed some leather as they take on the division leading cardinals. splashed some leather as they take on the leading cardinals. thank you, erica. when we made our commitment to the gulf, bp had two big goals: help the gulf recover, and learn from what happened so we could be a better, safer energy company. i've been with bp for 24 years. i was part of the t
cliff spending cuts. >>> the nation's biggest grocery chain is getting much bigger. kroger is buying harris teeter, expending its region. they have 212 stores in eight states including delaware, florida, maryland, and washington, d.c. >>> and chevy's newest corvette doesn't just look good. it's a sports car that's good for the planet. the 2014 corvette stingray boasted 29 miles per gallon on the highway even though it's packing a 455 horsepower, f.2 liter engine, the stingray...
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. >> accept at is voting right now to keep our nation from going over the fiscal cliff in a big way. plan has been agreed upon by the white house and senate republicans. it is all to the avoid tax increases and stop sweeping spending cut cuts. good evening. carolyn johnson has the night off. >> we are now officially over the fiscal cliff because it's past midnight east coast time but on this new year's eve late night work continues in washington to avoid tax hike and budget cut. democrat voting on the deal between the white house and congressional republicans in the senate. karen travers has the latest development from capitol hill. >> don't start popping the champagne just yet but my knowledge step to avoid the fiscal cliff tonight. after days of intense negotiations, the white house and senate republicans reached a deal. tonight vice president biden went up to capitol hill to sell it to senate democrats. >> happy new year. >>reporter: biden swooped in at the 11th hour to hammer out an agreement. that would permanently extend the bush tax cut for individual making under 400,000. hou
. >> accept at is voting right now to keep our nation from going over the fiscal cliff in a big way. plan has been agreed upon by the white house and senate republicans. it is all to the avoid tax increases and stop sweeping spending cut cuts. good evening. carolyn johnson has the night off. >> we are now officially over the fiscal cliff because it's past midnight east coast time but on this new year's eve late night work continues in washington to avoid tax hike and budget cut....
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Jan 1, 2013
01/13
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that make up the fiscal cliff. the vote was an overwhelming 39- 8. the house vote is expected tomorrow. >>> meanwhile back in the west coast here's a live look. up to a quarter a million people are expected for the fireworks show. many of them staked out their spots hours ago and they were hanging out despite temperatures plummeting. >>> every year bringing changes some good, some bad and some less. less change in your pocket any way. mike sugarland says get ready to pay more for everything starting tomorrow. >> reporter: has the dubious distinction of having the highest sales tax in california. >> even if it's just one penny. it's 5-cents it's going to add up. especially for young kids, i'm 21 and i spend money like it's nothing. >> reporter: now when she spends money like it's nothing she's going to spend a penny for every $4, that's a big deal. >> nobody likes it but i guess if it has to be it has to be. >> reporter: steve leon is a manager of a local tire store and he's not worried. prop 30 raised taxes and it
that make up the fiscal cliff. the vote was an overwhelming 39- 8. the house vote is expected tomorrow. >>> meanwhile back in the west coast here's a live look. up to a quarter a million people are expected for the fireworks show. many of them staked out their spots hours ago and they were hanging out despite temperatures plummeting. >>> every year bringing changes some good, some bad and some less. less change in your pocket any way. mike sugarland says get ready to pay more...
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Jan 3, 2013
01/13
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because we've got three more fiscal cliffs. >> reporter: deep automatic spending cuts, or a new combination of taxes and cuts that could result in a fiscal diet both parties say is needed, but not for their projects. think about it. the federal government now boroughs about 40-cents of every dollar it spends. that's led to a maximum $16.4 trillion debt. if the debt ceiling is not raised, the nation could default on its spending. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. >> the president has maxed out his credit card, and he's not going to get an unlimited credit card. >> reporter: the next few months will be a real test for congress, and for new nebs who think they can break the impasse between parties. rita williams, ktvu, channel 2 news. >>> relief over the fiscal cliff deal may be short lived as americans realize their payroll taxes are going up. the deal in congress reinstates the 2% cut in the social security payroll tax that was waived two years ago, to stimu
because we've got three more fiscal cliffs. >> reporter: deep automatic spending cuts, or a new combination of taxes and cuts that could result in a fiscal diet both parties say is needed, but not for their projects. think about it. the federal government now boroughs about 40-cents of every dollar it spends. that's led to a maximum $16.4 trillion debt. if the debt ceiling is not raised, the nation could default on its spending. >> if congress refuses to give the united states...
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Jan 3, 2013
01/13
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because we've got three more fiscal cliffs. >> reporter: deep automatic spending cuts, or a new combination of taxes and cuts that could result in a fiscal diet both parties say is needed, but not for their projects. think about it. the federal government now boroughs about 40-cents of every dollar it spends. that's led to a maximum $16.4 trillion debt. if the debt ceiling is not raised, the nation could default on its spending. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. >> the president has maxed out his credit card, and he's not going to get an unlimited credit card. >> reporter: the next few months will be a real test for congress, and for new nebs who think they can break the impasse between parties. rita williams, ktvu, channel 2 news. >>> relief over the fiscal cliff deal may be short lived as americans realize their payroll taxes are going up. the deal in congress reinstates the 2% cut in the social security payroll tax that was waived two years ago, to stimu
because we've got three more fiscal cliffs. >> reporter: deep automatic spending cuts, or a new combination of taxes and cuts that could result in a fiscal diet both parties say is needed, but not for their projects. think about it. the federal government now boroughs about 40-cents of every dollar it spends. that's led to a maximum $16.4 trillion debt. if the debt ceiling is not raised, the nation could default on its spending. >> if congress refuses to give the united states...
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Jan 2, 2013
01/13
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. >> it would be catastrophic, far worse than the "fiscal cliff." >> reporter: many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his address, president obama returned to hawaii to finish his vacation and will sign the bill there. >>> most overseas stock markets rose on news of the u.s. "fiscal cliff" has been averted. the kospi stock exchange in south korea celebrated its first trading day in 2013. it finished up as did hong kong, australia, germany, britain and france. here in the u.s., the new year's first day of trading begins in about two hours. >>> people affected by hurricane sandy will have to wait for the next session of congress to learn the fate of a federal aid package. the senate already passed the $60 billion measure but the house ended without voting on it. the new coming will be sworn in tomorrow. >>> and as lawrence just said, it is a chilly morning in the bay area. but don't light a fire. today is a "spare the air" day
. >> it would be catastrophic, far worse than the "fiscal cliff." >> reporter: many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his address, president obama returned to hawaii to finish his vacation and will sign the bill there. >>> most overseas stock markets rose on news of the u.s. "fiscal...
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Feb 28, 2013
02/13
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instead of a fiscal cliff, the president said it was more like a tumble downward. and he invited congressional leaders to the white house for talks. here's karen travers. >> reporter: the topic was probably unavoidable. today, president obama had a brief meeting, no more than ten minutes, with congressional leaders, about how to avoid the massive spending cuts. they'll sit down on friday at the white house. progress? not so much. the meeting is scheduled right at the deadline for the $85 billion in cuts. unlike, say, the fiscal cliff, or a potential government shutdown, there's little urgency in washington right now. but there is a lot of finger-pointing. >> the sequester was the president's idea. the sequester did not envision any additional tax increases. >> house republicans have declared that the entire strategy is to sit on the sidelines, stop working with us to pass something. >> reporter: the cuts will mean furloughs for civilian defense department workers across the nation. a 20% reduction in pay. >> hard-working people that have everything they've got. so,
instead of a fiscal cliff, the president said it was more like a tumble downward. and he invited congressional leaders to the white house for talks. here's karen travers. >> reporter: the topic was probably unavoidable. today, president obama had a brief meeting, no more than ten minutes, with congressional leaders, about how to avoid the massive spending cuts. they'll sit down on friday at the white house. progress? not so much. the meeting is scheduled right at the deadline for the $85...
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Jan 25, 2013
01/13
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let's remember fiscal cliff, cutting government as krystal was pointing out, more than we already have, was something republicans had to get up and say we didn't mean it, we don't want it, it's too fast, it's bad for the economy. that panic we had was actually a failing of the core ideological promise they made in november. >> and to that point on economics, krystal, paul ryan to "the wall street journal" says, "the electorate did not reject our principles at the election." >> okay. >> what did the electorate say then? they didn't like the way he looked? they didn't believe his marathon lies. >> they didn't like the obama phone they were given and the gifts they got from the president. >> what is this man talking about? >> paul ryan did say things like urban voters. he has that same view that mitt romney does about the 47% being takers and getting gifts from the government. that is his view, and so as long as you have that core understanding among paul ryan, who is supposed to be a leader of the republican party, they are not going to be able to evolve. they might be able to put on a h
let's remember fiscal cliff, cutting government as krystal was pointing out, more than we already have, was something republicans had to get up and say we didn't mean it, we don't want it, it's too fast, it's bad for the economy. that panic we had was actually a failing of the core ideological promise they made in november. >> and to that point on economics, krystal, paul ryan to "the wall street journal" says, "the electorate did not reject our principles at the...
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Jan 3, 2013
01/13
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they canceled a scheduled vote because of the fiscal cliff legislation. republicans from new york and new jersey reacted with outrage. now there is a vote to help pay for flood insurance claims a second vote will be held on another $51 billion aid package. >>> there will be no extra security following the death of three people who were swept out to sea by rogue waves. on new year's day, a man drowned on north beach. four days earlier, a father and son died after they were swept away while fishing in the head lands. there are no immediate plans to add lifeguards or any extra patrols. >>> they are getting a look at the bay lights projects. they will look at 125,000 lights which will create a dazzling light show and it is scheduled to be completed this march and will light up the bay for two years. let's go to sal with traffic, hey, sal. >> good morning, brian and pam, welcome back. it is one of those things where the whole crew is back and people are coming back on the roads starting with the east shore freeway and we'll see more and more people until one d
they canceled a scheduled vote because of the fiscal cliff legislation. republicans from new york and new jersey reacted with outrage. now there is a vote to help pay for flood insurance claims a second vote will be held on another $51 billion aid package. >>> there will be no extra security following the death of three people who were swept out to sea by rogue waves. on new year's day, a man drowned on north beach. four days earlier, a father and son died after they were swept away...
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Jan 2, 2013
01/13
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the fiscal cliff showdown in washington. the house gop leadership considered an amended version of the senate's fiscal cliff bill, which would include around $330 billion in spending cuts. nbc news is reporting there are not enough votes for the amended bill to pass. now, without those needed votes, speaker john boehner is prepared to bring the senate deal to the house floor for an up-and-down vote possibly tonight. the senate bill is expected to get around 170 democratic votes in the house, meaning it will need roughly 50 republican votes to pass. now these developments come after house republicans were on the verge of rejecting the senate bill earlier today. house gop leader eric cantor telling the caucus he could not support the bill without spending cuts. all right. let's turn to nbc's mike viqueira who has been covering all the latest developments from washington on this. so vic, the reason we're in this place, this has something to do with a fig leaf? >> well, i think so. i think plainly what happened here is after it
the fiscal cliff showdown in washington. the house gop leadership considered an amended version of the senate's fiscal cliff bill, which would include around $330 billion in spending cuts. nbc news is reporting there are not enough votes for the amended bill to pass. now, without those needed votes, speaker john boehner is prepared to bring the senate deal to the house floor for an up-and-down vote possibly tonight. the senate bill is expected to get around 170 democratic votes in the house,...
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Jan 1, 2013
01/13
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goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal. the dow finished ahead 166. the s&p 500 was up 24. the nasdaq gained 59 another deal not fiscal cliff related. the senate home security committee blasted the state department for failures leading to the deadly september 11th attack on the u.s. mission in benghazi, libya. this comes on the heels of another scathing report by an independent state department accountability review board that we have covered many times. chief intelligence correspondent catherine herridge has the latest senate report sites the white house for president obama inconsistent statements whether the benghazi assault was terrorist attack
goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal....
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. >> lawmakers debate whose taxed in the fiscal cliff talk there's is another tax cut that expired fa that affects everybody. social security payroll tax reduced by a third in 2010. idea to stimulate the economy this, year goes up to 6.2%. and that means that a person with a gross gros income of $50,000 will pay $1,000 more in taxes this year, most people are not happy to see hold tax rate return. >> trying to save up to buy a house. so looking at how much it will be going up, i don't know if i'll be able to afford it as soon as i want to. >> it's paycheck to paycheck z this is just going to make it tougher for us. >> the increase is expected to generate $125 billion for the federal budget. economists warn we should expect a similar reduction in consumer spending. >> san francisco police need your help to catch shooter who's injured three people during a new year's eve celebration. a 12-year-old boy sitting in front of pier 23 rest spot was hit in the ankle. he was taken to the hospital and is he expected to be okay. a bullet grazed a man sitting next to him. >> out pops, we weren't s
. >> lawmakers debate whose taxed in the fiscal cliff talk there's is another tax cut that expired fa that affects everybody. social security payroll tax reduced by a third in 2010. idea to stimulate the economy this, year goes up to 6.2%. and that means that a person with a gross gros income of $50,000 will pay $1,000 more in taxes this year, most people are not happy to see hold tax rate return. >> trying to save up to buy a house. so looking at how much it will be going up, i...
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Jan 2, 2013
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he's resuming the family vacation he cut short in order to deal with that fiscal cliff. here are some of the details of the fiscal cliff deal that was passed last night. a perm extension of previous tax cut for all taxpayers expect for individuals that make $400,000 a year or couples that make more than $450,000. the bill continues unemployment benefits for long-term jobless. and postpones a decision on controversial spending cuts for two months. even though congress acted to avert income tax hikes on most americans, your paycheck will still shrink in 2013. ktvu janine de la vega is in san jose right now to explain about the end of the payroll tax holiday. what does that mean? >> reporter: dave, we plan on talking to people as they make their way to work today because the ending of the payroll tax all effect people's paychecks. here is what you need to know. for the past two years americans were enjoying a boost in their paycheck. this payroll tax cut lowered the social security tax from 6.2% to 4.2%. that was an emergency measure put back into place in 2010 to help boos
he's resuming the family vacation he cut short in order to deal with that fiscal cliff. here are some of the details of the fiscal cliff deal that was passed last night. a perm extension of previous tax cut for all taxpayers expect for individuals that make $400,000 a year or couples that make more than $450,000. the bill continues unemployment benefits for long-term jobless. and postpones a decision on controversial spending cuts for two months. even though congress acted to avert income tax...
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Jan 1, 2013
01/13
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that make up the fiscal cliff. the vote was an overwhelming 89- 8. a house vote is expected tomorrow. >>> meanwhile, back on the west coast, here's a live look at the embarcadero. san francisco now 45 minutes away from the year 2013. tonight, up to a quarter of a million people are expected for the midnight fireworks show. many of them staked out their spots hours ago and they are hanging around in spite of temperatures plummeting into the 40's now. >>> every year brings new changes. some good, some bad, and some less. less change in your pocket anyway. mike sugerman says get ready to pay more for everything, starting tomorrow. >> reporter: the city of el cerrito, where ups notices gather, because no one is there to collect them. it has the dubious distinction of having the highest sales tax in california. >> it's 5 cents. it adds up. i'm only 21, and i spend money like it's nothing. >> reporter: now, when she spends money like it's nothing, she's going to spend an extra quarter of a cent every time she spends $1.
that make up the fiscal cliff. the vote was an overwhelming 89- 8. a house vote is expected tomorrow. >>> meanwhile, back on the west coast, here's a live look at the embarcadero. san francisco now 45 minutes away from the year 2013. tonight, up to a quarter of a million people are expected for the midnight fireworks show. many of them staked out their spots hours ago and they are hanging around in spite of temperatures plummeting into the 40's now. >>> every year brings new...
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Jan 2, 2013
01/13
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now the fiscal cliff deal would shield income tax cuts for all workers earning less than 400,000 dollars a year and households less than 450,000 dollars. it also he prevents a tax hike on estates valued at less than 5 million dollars. it extends unemployment benefits for about 2 million people that were set to expire. what it doesn't do is raise the debt ceiling. in two months government will reach the limit on borrowing unless congress acts. bill only delays large cuts to the pentagon and other government programs. although congress missed the january 1st midnight deadline by-passing the compromise deal in the house and senate, congress can try to take credit for retroactive tax cuts. >> it's a very, very strong first step. >> this is an important one. that is critical one for the future of the country. >> reporter: so in march another round of fighting as congress tackles the debt ceiling. sherrie johnson, abc2 news. >>> immediately after commenting on the house vote the president headed to andrews air force base in maryland and this is new video from overnight where he boarded the pla
now the fiscal cliff deal would shield income tax cuts for all workers earning less than 400,000 dollars a year and households less than 450,000 dollars. it also he prevents a tax hike on estates valued at less than 5 million dollars. it extends unemployment benefits for about 2 million people that were set to expire. what it doesn't do is raise the debt ceiling. in two months government will reach the limit on borrowing unless congress acts. bill only delays large cuts to the pentagon and...
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Jan 30, 2013
01/13
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. >>> the fiscal cliff and severe cuts in the military were threatened to have happened this month, but they did not. never there's worries that defense spending could take a serious hit that will affect not only defense contractors, but small businesses as well. derrick ward has the report. >> reporter: the fiscal cliff has been moved back to march. there's still time to avoid sequestration, the broad across the board cutting that just about everybody hopes to avoid, but the department of defense is likely to take a big hit. analysts say they could see $5 billion in cuts. here in garrisonville, they get a lot of business from quantico nearby. they're starting to see some nervousness, but they're just like workers everywhere, laboring under uncertainty. >> i believe people have been anticipating this. not spending money if they don't have to. >> the military is coming in, i had one just the other day. he gets $2300 b.a.q., but only wanted to spend 18. >> here at the nail salon, a lot of customers come from the base as well. the owner say people talk about what could lie ahead, but still
. >>> the fiscal cliff and severe cuts in the military were threatened to have happened this month, but they did not. never there's worries that defense spending could take a serious hit that will affect not only defense contractors, but small businesses as well. derrick ward has the report. >> reporter: the fiscal cliff has been moved back to march. there's still time to avoid sequestration, the broad across the board cutting that just about everybody hopes to avoid, but the...
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Jan 31, 2013
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economists blamed worry over the fiscal cliff and cuts in defense spending. let me point out, jon and laura, we haven't solved the fiscal cliff. we delayed it. if we go over, defense cuts will take place. it's written into the law. so we got bad news on the worry of this happening. one wonders what would happen if we went over and big jobs report tomorrow. 5:30 a.m. >> a lot going on. thanks for helping us cover it all. >>> christina loren is here to help us and talk about what's happening outside. another nice day in the neighborhood. >> a beautiful day in the neighborhood. and these beautiful days are numbered. enjoy them while they last. 37 degrees to start you out. you'll need that coat this morning in places like livermore at 42 in san francisco. 40 in san jose. by noon we're all going to exceed our seasonal averages. make sure you're ready for that. 60 degrees breaking for lunch in san jose. rounding out the day close to 70 just about everywhere. we'll take you through that seven-day forecast. it is on the way. first, mike has a traffic alert. >> we con
economists blamed worry over the fiscal cliff and cuts in defense spending. let me point out, jon and laura, we haven't solved the fiscal cliff. we delayed it. if we go over, defense cuts will take place. it's written into the law. so we got bad news on the worry of this happening. one wonders what would happen if we went over and big jobs report tomorrow. 5:30 a.m. >> a lot going on. thanks for helping us cover it all. >>> christina loren is here to help us and talk about what's...
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Jan 2, 2013
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for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning. we're going to have more on that. that begins at 4:30 a.m. >>> president obama left washington late tonight. he is returning to hawaii to rejoin his family for a vacation. the president interrupted his traditional christmas holiday to work with lawmakers to prevent the economy from going over that so-called fiscal cliff. we have a cold night ahead with temperatures dropping into the 20s and 30s. we caught folks in union square bundled up in their winter jackets to ward off the cold. abc7's spencer christian is here with live doppler 7hd. >> temperatures are falling as we speak. here is a
for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning....
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Jan 12, 2013
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cliff, they did not extend the payroll tax cuts. that means a 2% increase to i don't really social security tax went into effect this month. bottom line, the average american that pulls in $1700 a check, lost $33 a check. >> the 49ers beat the packers in the first game of the season at green bay, so homefield advantage will hopefully mean a big win at the stick. >>> san francisco mayor, and the mayor of green bay are making a friendly wager on the game and this bet has an educational twist. if the 49ers win, green bay will sponsor special tours for hundreds of san francisco kids at the exploratorium when it opens at the new home at pier 15 in april. if the niners lose, san francisco will sponsor a free admission day at the children's museum of green bay a. if the game comes down a field goal, it will be a familiar face doing the kicking. jim harbaugh said his original guy, david akers is still his guy. despite missing a nfl high 13 field goals this season. >> okay, so only of us or most of us will be glued to the set watching the ga
cliff, they did not extend the payroll tax cuts. that means a 2% increase to i don't really social security tax went into effect this month. bottom line, the average american that pulls in $1700 a check, lost $33 a check. >> the 49ers beat the packers in the first game of the season at green bay, so homefield advantage will hopefully mean a big win at the stick. >>> san francisco mayor, and the mayor of green bay are making a friendly wager on the game and this bet has an...
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for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning. we're going to have more on that. that begins at 4:30 a.m. >>> president obama left washington late tonight. he is returning to hawaii to rejoin his family for a vacation. the president interrupted his traditional christmas holiday to work with lawmakers to prevent the economy from going over that so-called fiscal cliff. we have a cold night ahead with temperatures dropping into the 20s and 30s. we caught folks in union square bundled up in their winter jackets to ward off the cold. abc7's spencer christian is here with live doppler 7hd. >> temperatures are falling as we speak. here is a
for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning....
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Jan 1, 2013
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it negates the fiscal cliff of across the board tax increases and sweeping government other agencies but many house republicans said that they were opposed to the bill because they didn't cut federal spending and they were hoping gop leaders will give the house a chance to amend the bill and send it back to the senate. democrats are saying enough is enough. >> we could allow us to go over or we can try to come together and pass something that something probably on both sides of the aisle no one agrees with 100% of. >> what we're going to do in the present plan is put nearly another trillion dollars worth of debt on the american people. time is running out to change the direction because that trillion dollars isn't just a problem for the next generation, it's a problem for corporate america, it's a problem for every american. >> the deal approved by the senate continues tax breaks for those earning less than $400,000 and for couples earning less for 450,000. it raises taxes on wealthiest americans. house republicans are supposed to meet twice today about the bill no decision expected
it negates the fiscal cliff of across the board tax increases and sweeping government other agencies but many house republicans said that they were opposed to the bill because they didn't cut federal spending and they were hoping gop leaders will give the house a chance to amend the bill and send it back to the senate. democrats are saying enough is enough. >> we could allow us to go over or we can try to come together and pass something that something probably on both sides of the aisle...
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Jan 11, 2013
01/13
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cliff deal which was a relative nothing, raised a lot of taxes and didn't cut any spending. >> exactly. >> so when they did that deal, they kicked the cuts -- the cuts in the pentagon and the human services $1.2 trillion down the road for two months, so there may yet be a ton of spending cuts. that's what i'm hoping for, and i think -- i think the suggestion that there's got to be some significant pentagon spending cuts is exactly right. it hasn't been done for about 30 years and a lot of money in the pentagon budget is not asked for by the military, by congress people who have plants in their districts so, you know, there's a lot of room for cutting here. i agree with that. >> why aren't we doing any cuting? it seems like the -- >> nobody has the nerve. >> constantly surrounds tax increases, but even this, you know, with the top dems sending this letter to the president saying we believe that you've got to be willing to make -- take steps to ensure america doesn't break the promises and do not negotiate over the debt ceiling, it's all about, you know, stick to your way and don't negot
cliff deal which was a relative nothing, raised a lot of taxes and didn't cut any spending. >> exactly. >> so when they did that deal, they kicked the cuts -- the cuts in the pentagon and the human services $1.2 trillion down the road for two months, so there may yet be a ton of spending cuts. that's what i'm hoping for, and i think -- i think the suggestion that there's got to be some significant pentagon spending cuts is exactly right. it hasn't been done for about 30 years and a...
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Feb 26, 2013
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house speaker this afternoon said republicans raised taxes in the fiscal cliff deal and will not again to avoid the automatic budget cuts known as the sequester. >> the president says we have to have another tax increase in order to avoid the sequester. well mr. president, you got your tax increase. it's time to cut spending here in washington. >> irritation was ever more frequent budget showdowns is growing and it may intensify because none of the key players are talking and there's every indication that washington string of 11th hour compromises will soon be broken. major garrett, cbs news, the white house. >> the catholic church may have a new leader sooner than expected. pope benedict xvi changed the law of conclave. it allows the college of cardinals who skip the previously required 15-day waiting period before electing a successor. >> do it as quickly as possible. >> i'm very surprised. >> in place before easter week, which begins on march 24. >>> the upcoming election will make bay area history. >> for the first time, a former san francisco archbishop will be participating. kpix
house speaker this afternoon said republicans raised taxes in the fiscal cliff deal and will not again to avoid the automatic budget cuts known as the sequester. >> the president says we have to have another tax increase in order to avoid the sequester. well mr. president, you got your tax increase. it's time to cut spending here in washington. >> irritation was ever more frequent budget showdowns is growing and it may intensify because none of the key players are talking and...
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Jan 15, 2013
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. >> reporter: it's fiscal cliff revisited. big spending cuts coming march 1st and a possible government hutdown. >> if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. >> reporter: republicans are insisting on real spending cuts before they say okay to any more borrowing. >> they just can't sit there and say, oh, you're cutting me because you're not giving me the amount of increase that i wanted. those days are over. >> reporter: democrats argue you can't put the country's finances at risk just to get your way. >> you do not get it by threatening people to burn the house down as a way of making them come to the table. that's simply won't work. >> reporter: president obama's also working on new rules to regulate guns. vice president biden delivered his recommendation a day early and p told lawmakers the president has 19 different options that don't involve congress. the president's final plan is due out at the end of the week. from washington, i'm tra
. >> reporter: it's fiscal cliff revisited. big spending cuts coming march 1st and a possible government hutdown. >> if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. >> reporter: republicans are insisting on real spending cuts before they say okay to any more borrowing. >> they just can't sit there and say, oh, you're cutting me because you're not giving me the amount of increase that i...
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Jan 1, 2013
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ring in the new year by going over the fiscal cliff. it would increase the state tax, bring back higher tax rates on owners. >> our most immediate priority is to stop taxes going u pstarting tomorrow. i think that is a modest goal we can accomplish. >> reporter: they wanted taxes to go up on couples making $250,000. this deal is a concession as it increases on households. >> it has been clearly a g ood- faith negotiation. we all want to protect taxpayers and we can get it done now. >> reporter: a sticking point is a sequester. more than a trillion dollars in social programs, they say that the market needs structure and certainty, not haggling. it could take a hit if the deal falls a part. with higher taxes, california would spend less and tax r eceipts would drop. the loss of $11 billion in revenues in two years. the automatic spending cuts could affect thousands of jobs here in california. >>> optimism strikes a deal on a winning note. they break a five-day losing streak. the nasdaq scored a 2% gain with a 55 gain. >> they tell me they
ring in the new year by going over the fiscal cliff. it would increase the state tax, bring back higher tax rates on owners. >> our most immediate priority is to stop taxes going u pstarting tomorrow. i think that is a modest goal we can accomplish. >> reporter: they wanted taxes to go up on couples making $250,000. this deal is a concession as it increases on households. >> it has been clearly a g ood- faith negotiation. we all want to protect taxpayers and we can get it done...
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cliff, bush tax cuts have expired. but if the house will vote on the compromise, they can retroactively prevent those hikes. today, there was grumbling in the house from both sides of the aisle. >> this agreement represents absolutely the least we could have done under the circumstances. >> fails to address the threat from n.our country,qvn- uncontrolled spending. >> there is little doubt democratic members of the house would support the senate deal if it comes up for a vote, house republicans, however, are talking about adding spending cuts amendments which would throw legislation back into the senate. and frankly, jeopardize the deal. because thursday, january 3, at noon, 112th congress comes to an end and that senate agreement, it would be dead. >> thank you very much. coming up, during 4:30, abc 7 news will take a look at the fiscal cliff impass on your wall wallet. learn how much the payroll tax increase is going cost you moving on in kinld of a strange situation in san jose. police questioning a naked man who he
cliff, bush tax cuts have expired. but if the house will vote on the compromise, they can retroactively prevent those hikes. today, there was grumbling in the house from both sides of the aisle. >> this agreement represents absolutely the least we could have done under the circumstances. >> fails to address the threat from n.our country,qvn- uncontrolled spending. >> there is little doubt democratic members of the house would support the senate deal if it comes up for a vote,...
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for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning. we're going to have more on that. that begins at 4:30 a.m. >>> president obama left washington late tonight. he is returning to hawaii to rejoin his family for a vacation. the president interrupted his traditional christmas holiday to work with lawmakers to prevent the economy from going over that so-called fiscal cliff. we have a cold night ahead with temperatures dropping into the 20s and 30s. we caught folks in union square bundled up in their winter jackets to ward off the cold. abc7's spencer christian is here with live doppler 7hd. >> temperatures are falling as we speak. here is a
for retroactive tax cuts. >> to avoid this fiscal cliff, they set up new ones. in just two months they will have to deal with the spending cuts they put off and have a nasty fight over the debt ceiling. karen travers, abc news, washington. >>> stocks hit a five-month high after the house voted. many were worried if the vote had failed, it may have pushed the u.s. into a recession. now the real test comes tomorrow when the stock exchange opens in new york at 6:30 in the morning....
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portion of the fiscal cliff. they're going to take cuts up in about two months from now, just about the time we'll hit the next debt ceiling. republicans prom yilgs a big fight over that. tonight a little pro vision in the deal that affects something called alternative minimum tax. congress instituted the tax in 1969 to go after millionaire adds voiding income taxes by claiming big deduction autos this was common. you can get into leveraged ky= very]c-k?ms >> so last night, whenc1]c congress passed tax cuts there was a pro vision to amt accounting for inflation. to e]8ain the impact they showed me a tax return for someone making $150,000 a year. >> this person is single, he's over that amount. >> our taxpayer still got hit with the amt. and the new adjustments didn't seem to be that big of a deal. >> i don't think it is. a few people will benefit in percentage terms but it's not a big deal. >> so if you've been caught in the bin in past years well, you'll likely be back there. congress tweaked amt. they didn't f
portion of the fiscal cliff. they're going to take cuts up in about two months from now, just about the time we'll hit the next debt ceiling. republicans prom yilgs a big fight over that. tonight a little pro vision in the deal that affects something called alternative minimum tax. congress instituted the tax in 1969 to go after millionaire adds voiding income taxes by claiming big deduction autos this was common. you can get into leveraged ky= very]c-k?ms >> so last night, whenc1]c...
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Feb 12, 2013
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you will remember that from the fiscal cliff. but also by avoiding the auto cuts and additional spending, that's going to require congressional approval. and that's going to set the president once again on a collision course with house republicans. >> it's time for washington to get back to the basics. we can't continue to spend money we don't have. >> the president is going to elaborate on big themes from the inaugural speech among them immigration reform climate change and gun violence. democrats are placing a emphasis on gun control and gabby giffords will be in the house chamber for the address. also going to be there are parents of the slain chicago teen who played at the president's second inauguration and they will sit with first lady michelle obama. now among those in the group will be outspoken gun advocates ted nugent who is going to be aguest of texas republican representative stockman. following the address, marco rube yeah will deliver the gop response for the state of the union and speaking both in spanish and engli
you will remember that from the fiscal cliff. but also by avoiding the auto cuts and additional spending, that's going to require congressional approval. and that's going to set the president once again on a collision course with house republicans. >> it's time for washington to get back to the basics. we can't continue to spend money we don't have. >> the president is going to elaborate on big themes from the inaugural speech among them immigration reform climate change and gun...
SFGTV2: San Francisco Government Television
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May 4, 2013
05/13
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back into the ceiling debt much later and that rolls up into the fiscal cliff 2.0 in how the government tempts to deal with it. so you may ask yourself we have a portion of the tax increases went through and who knows exactly what congress is going to but it's probably a pretty good guess that we get to the very last minute right before the march 1st effective gate date for the spending cuts and then we get some other short-term extension to add to this made for tv drama that they seem so fond of lately and you wonder where does it get us long term and how are we able to close the gap here the congressional budget office has looked at what they consider to be the most likely outcome of the ongoing negotiations which, is a marshal implementation of these spending cuts and what you see here are two lines. the top line is out lace as a percentage of gdp or government spending as a percentage of gdp and starting today and going out through the end of 2022 and this is a forecast for the next nine years and going below that is rather a new as a% of gdp and what you take way here is what are w
back into the ceiling debt much later and that rolls up into the fiscal cliff 2.0 in how the government tempts to deal with it. so you may ask yourself we have a portion of the tax increases went through and who knows exactly what congress is going to but it's probably a pretty good guess that we get to the very last minute right before the march 1st effective gate date for the spending cuts and then we get some other short-term extension to add to this made for tv drama that they seem so fond...
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Feb 22, 2013
02/13
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this is different from the fiscal cliff. the republicans did nothing then and they got tax hikes which they don't like. here they do nothing and they get spending cuts which they do like that. is part of their agenda. the public, rasmussen has a poll that only a third of americans want to have the sequester not go in to effect. they worry about the automatic cuts. that sounds about right. they seem to be, the public has grown immune or somewhat immune to the claims that relatively small cuts, $85 billion is one-half of 1%. of all federal spending. that if you cut it, it will have a really catastrophic effect on american life. i also think the president overrated his open clout. you know, i keep hearing about how enormously popular he is. he is not particularly popular. his job approval is 51, 52%. that is where president bush was in 2005. after his re-election. and it's about where the president was even before his re-election last november. he doesn't have great sway over the public. >> bret: you don't think there is negati
this is different from the fiscal cliff. the republicans did nothing then and they got tax hikes which they don't like. here they do nothing and they get spending cuts which they do like that. is part of their agenda. the public, rasmussen has a poll that only a third of americans want to have the sequester not go in to effect. they worry about the automatic cuts. that sounds about right. they seem to be, the public has grown immune or somewhat immune to the claims that relatively small cuts,...
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Jan 2, 2013
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to avoid this fiscal cliff, congress essentially set up new ones. in just two months, they're going to have to deal with the automatic spending cuts they put off, and there's going to be a nasty fight over the debt ceiling. john and paula, back to you. >> we get to look forward to so much more. >>> victims of hurricane sandy will have to wait longer for help. lawmakers did not vote on a measure to provide aid to people affected by the storm. the senate hassocked more than $60 billion to the region, but house republicans say the price tag is too high and includes too much pork. >>> secretary of state clinton spending her fourth day in the hospital being treated for blood clots. chelsea clinton tweeted, thank you for all sending good thoughts my mom's day. grateful to her doctors and that she'll make a full recovery. still not clear how soon clinton will be able to go home. >>> overseas now, and gunman in northwest pakistan have am busheled a van, killing five pakistani teachers and two health workers. all but one were women. they were working for a p
to avoid this fiscal cliff, congress essentially set up new ones. in just two months, they're going to have to deal with the automatic spending cuts they put off, and there's going to be a nasty fight over the debt ceiling. john and paula, back to you. >> we get to look forward to so much more. >>> victims of hurricane sandy will have to wait longer for help. lawmakers did not vote on a measure to provide aid to people affected by the storm. the senate hassocked more than $60...
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Jan 6, 2013
01/13
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but republicans want a fight tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small businesses and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit now $16.4 trillion comes up as to mandatory spending cuts in the tens of billions. >> it's time to face up to the fact that our nation is in grave fiscal danger. grave fiscal danger and it has everything to do with spending. >> reporter: with income taxes raised republicans contend they now own the spending cut debate. to complicate matters they will run out of funds by the end of march. the president can tell himself he's not trading spending cuts for an increase in the debt ceiling but he probably will be. at least indirectly. major garrett, cbs news, the white house. >>> you hear the term winter wonderland tossed around a lot at this time of year. this is the 29th annual ice and snow festival in harbin, china and all of the large scale snow and ice sculptures are built out of ice block taken from the nearb
but republicans want a fight tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small businesses and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit now $16.4 trillion comes up as to mandatory spending cuts in the tens of billions. >> it's time to face up to the fact that our nation is in grave fiscal danger. grave fiscal danger and it has...
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Feb 13, 2013
02/13
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it was that actually ended up at the fiscal cliff agreement. this did not include any taxes and i should say did not include spending cuts. even at the end, we have a majority of the senate republicans supporting it. we did not get obviously a majority of house republicans. i was about $600 billion in revenue. that comes after the budget control agreements and other agreements that came to 1.5100 trillion% cuts. so as we move forward, 600 billion in revenue, our point is we need to continue to move forward on the model of the bipartisan commissions with a balanced approach and with respect to the appropriations process, yes, we should set the discretionary spending levels. there is a disagreement as to what discretionary spending levels are appropriate to meet the goals we have. i talked about some of them. investing in investigation, infrastructure and research. we should set those levels in the appropriations committees should prioritize. that is exactly what their job is pure sequester is obviously a totally arbitrary ways, which treats all
it was that actually ended up at the fiscal cliff agreement. this did not include any taxes and i should say did not include spending cuts. even at the end, we have a majority of the senate republicans supporting it. we did not get obviously a majority of house republicans. i was about $600 billion in revenue. that comes after the budget control agreements and other agreements that came to 1.5100 trillion% cuts. so as we move forward, 600 billion in revenue, our point is we need to continue to...
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Jan 1, 2013
01/13
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a m was proved on tax incruises and spending cuts, possibly avoiding the fiscal cliff. now the m goes to the house of representatives. ed payne has the story. >> reporter: at the stroke of med night, many americans were celebrating and bringing in the new year. but the mood in washington, much more serious. vice president joe biden went to capitol hill late after the deal was struck. the senate went back into session, and around 2:00 a.m., the vote was in. the bill as amended is passed. >> reporter: the senate approved a measure that puts off spending cuts for two months and keeps the tax cuts for individuals earning less than $400,000 and couples earning more than 450,000 there. the goal was to protect the middle class families. >> middle class families will wake up today to the assurance their taxes won't go up $2,200 each. they can decide how they're going to pay for groceries, rent. >> we don't think taxes should be going up on anyone, but we all knew that if we did nothing, they would be going up on everyone today. we weren't going to let that happen. >> reporter:
a m was proved on tax incruises and spending cuts, possibly avoiding the fiscal cliff. now the m goes to the house of representatives. ed payne has the story. >> reporter: at the stroke of med night, many americans were celebrating and bringing in the new year. but the mood in washington, much more serious. vice president joe biden went to capitol hill late after the deal was struck. the senate went back into session, and around 2:00 a.m., the vote was in. the bill as amended is passed....
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Jan 1, 2013
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it's not a good fiscal cliff deal if it give morse tax cuts to 2% and sets the stage for, in his words, quote, hostage-taking. he is voicing the concern that because the taxes only apply or go up on those making $400,000 or more and $450,000 if you're a couple, that essentially it's not hitting enough people. and he is voicing the concern that there might be deep cuts. so there is some pressure coming from the left for democrats to not necessarily accept the deal that is on the table. now, we saw president obama come out earlier today and talk about the fact that look, this isn't a perfect deal. this represents compromise on all sides. part of the reason you saw president obama come out today is not only to pressure republicans, but also to pressure democrats to get the deal done before this midnight deadline that is now so close and that is fast approaching. so there is some opposition that is being voiced from the left. could this impact the decision of some senate democrats? we'll have to wait and see, certainly. but, of course, when these deals come together, there are a lot of dis
it's not a good fiscal cliff deal if it give morse tax cuts to 2% and sets the stage for, in his words, quote, hostage-taking. he is voicing the concern that because the taxes only apply or go up on those making $400,000 or more and $450,000 if you're a couple, that essentially it's not hitting enough people. and he is voicing the concern that there might be deep cuts. so there is some pressure coming from the left for democrats to not necessarily accept the deal that is on the table. now, we...
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. >> finally progress on the fiscal cliff showdown. president obama now on his way back to hawaii to resume his vacation with his family. good morning. it is 4:30. thank you for joining us. >> we are glad to have you with us on this wednesday and in this new year of 2013. let's check in with jackie. >> it will not be a bad day overall. starting out on the ugly side of things will improve as we progress especially into the afternoon. a bit of cloud cover. just a smidge fof a wintry mix. that will be short-lived. it will be out of here by late morning. temperature wise, not as bad -- not a bad start here. almost everybody above freezing. 32 at it as brick and frigid. 35 at dulles. 38 in washington. highs in the upper 30's and low 40's. we are going to head to traffic. >> good morning. it feels like money mining -- monday morning. no major problems around the region. maryland virginia, and the district. no road work on the beltway. no problems for the entire beltway to report. i-95 -- regina heading north coming out of stafford, what brid
. >> finally progress on the fiscal cliff showdown. president obama now on his way back to hawaii to resume his vacation with his family. good morning. it is 4:30. thank you for joining us. >> we are glad to have you with us on this wednesday and in this new year of 2013. let's check in with jackie. >> it will not be a bad day overall. starting out on the ugly side of things will improve as we progress especially into the afternoon. a bit of cloud cover. just a smidge fof a...
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. >>> lawmakers debate who is taxed in the fiscal cliff talks, another tax cut plan has expired social security payroll tax was reduced by a third in 2010 to stimulate the economy. this year it goes back to 6.2% level. that means a person with a gross income of $50,000 will pay about $1,000 more in taxes this year than last year. >> to buy a house, we are trying to save and looking how much it will probably be going up, i don't know if i will be able to afford a house. >> we are scraping by. paycheck to paycheck. >> the payroll tax increase is expected to generate $125 billion for the federal budget. economists warn we should expect a similar reduction in consumer spending. >> customers will start seeing increase in electric rates. pg&e is raising rates. it will cover upgrades to the electric grid. at the same time gas prices are going down because of a glut of natural gas on the market. here is how it breaks down. pg&e electric bills for january will go up by an average of 2.6% gas bills will go down by an average 5.3%. >> kristen: bills are going up with the temperatures they are. >>
. >>> lawmakers debate who is taxed in the fiscal cliff talks, another tax cut plan has expired social security payroll tax was reduced by a third in 2010 to stimulate the economy. this year it goes back to 6.2% level. that means a person with a gross income of $50,000 will pay about $1,000 more in taxes this year than last year. >> to buy a house, we are trying to save and looking how much it will probably be going up, i don't know if i will be able to afford a house. >>...
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Jan 7, 2013
01/13
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KNTV
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cliff showdown. republicans want to link raising the limit to cuts in medicare, medicaid and other government programs. >> i believe we need to raise the debt ceiling, if we don't raise it without a plan to get out of debt, all of us should be fired. >> special treatments under the tax code which ought to be looked at carefully. >> tweaks to the tax code could save money. president obama says he's willing to consider spending cuts separately, but will not bargain over the government's bargaining authorities. >>> so syria now, where the president outlined a road map for peace today, as fighting in the country continued. the u.n. says more than 60,000 people have been killed since the crisis began march 2011. stephanie gosk has more. >> syrian president bashar al assad addressed his country for the first time since june. he's very rarely seen in public. he was greeted by a packed and boifterrous oust tore yum. he blamed the crisis in syria on terrorists, including al qaeda and the countries that contin
cliff showdown. republicans want to link raising the limit to cuts in medicare, medicaid and other government programs. >> i believe we need to raise the debt ceiling, if we don't raise it without a plan to get out of debt, all of us should be fired. >> special treatments under the tax code which ought to be looked at carefully. >> tweaks to the tax code could save money. president obama says he's willing to consider spending cuts separately, but will not bargain over the...
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Jan 2, 2013
01/13
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FOXNEWSW
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congress did reach a deal to keep our nation from plummeting off the so-called fiscal cliff so we are safe for now. at least sort of. last night, the house aeveryone proofed the not bill which presents major tax cuts from expiring on income below $400,000 for individuals and $450 for couples and delays the crippling cuts for only do months, and that means we could see yet another last-minute stand off before march 1. president obama vowed to sign the bill. the vote was not unanimous. many republicans in the g.o.p.-led house voted against the bill. many of them argued it does not do enough to curve spending. it saw more bipartisan support in the senate with only a handful of lawmakers in both parties voting "no." the debate was quite intense. mike emanuel is live on capitol hill where he has been following it. the bill had the votes to pass. what was the final pitch? >>reporter: extending the bush tax cuts for individuals making up to $400,000 and couples making up to $450,000, giving certainty and some permanence and avoiding taking the economy off the fiscal cliff. >> by making repub
congress did reach a deal to keep our nation from plummeting off the so-called fiscal cliff so we are safe for now. at least sort of. last night, the house aeveryone proofed the not bill which presents major tax cuts from expiring on income below $400,000 for individuals and $450 for couples and delays the crippling cuts for only do months, and that means we could see yet another last-minute stand off before march 1. president obama vowed to sign the bill. the vote was not unanimous. many...